NSK and Volkswagen have announced a formal cooperation agreement between the two companies’ steering divisions.

“The cooperation agreement with NSK as one of the world’s leading manufacturers of steering systems is a meaningful step to expand our international development and production and to further strengthen our innovative strength in the chassis business,” said Volkswagen board member, Stefan Sommer.

For his part, Volkswagen Group Components CEO, Thomas Schmall, added: “Volkswagen Group Components has been a steering specialist for many years. The in-depth development cooperation enables us to make intensive use of the know-how of both partners and thus to further advance future products.”

EVP Masatada Fumoto, Head of NSK’s Steering and Actuator Division Headquarters, noted: “The cooperation agreement with Volkswagen is significant to further expand our product portfolio and global production.

“The two parties complement each other in many areas and we will continue to strengthen our relationship as we drive for future innovation.

NSK started manufacturing the first bearings in Japan in 1916 and has since developed into a global organisation researching, designing and manufacturing Motion & Control solutions supporting mobility and industry applications.

NSK is currently the top supplier of bearings in Japan and is the third largest supplier in the world by market share.